China's Commodites Black Monday

China's media dubbed Monday's drop in commodities "Black Monday"

Hexun: 中州期货日评:商品遭遇黑色周一 化工跟随震荡走低

Related: Beijing's start-stop policies are fraying investor nerves
Iron ore had been a key beneficiary of Beijing's stimulus policies early this year, with its price climbing to a peak of more than $US70 ($A97) a tonne in late April.

But in the past month, the price of iron ore has slumped by more than 25 per cent from its April peak, with ore with 62 per cent content trading at just over $US51 a tonne on Monday.

The fall in the price of physical iron ore mirrors trading in Chinese steel-rebar and iron-ore futures, which have both fallen nearly 30 per cent from their late-April peak.

...But some worry that Beijing is demonstrating this same stop-start approach when it comes to cleaning up the mountain of bad debts that are sitting on the books of the country's state-controlled banks.

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